Executive Summary
13604 & 13608 Chadron Ave. presents an attractive investment opportunity. The Asset is comprised of 30 units in two identical but individually parceled 15-unit buildings. The complex shares a total of 48 covered parking spaces, creating the potential for additional income from parking. Each building has 14 one bedroom, one bath units and 1 townhome style, two bedroom one & a half bathroom unit. All units are separately metered for gas and electricity.
Both buildings have extensive Captial improvements. Which include new roofs, some sewer line replacements and drought resistant water efficient landscaping. Multiple units have recent renovated kitchens, bathrooms, flooring and new appliances. Based on actual expenses the asset is projected to be operating at a 5.3% CAP rate for the upcoming 12 months and is being offered for $213,333 per unit.
Each apartment unit offers owner provided stoves, microwaves, and dishwashers. Tenants have the added convenience of an onsite laundry facility, intercom entry and gated parking.